Ocwen definition
Examples of Ocwen in a sentence
Ocwen Federal Bank FSB or its successor in interest or assigns or any successor to the Servicer under this Agreement as herein provided.
The Trust was created pursuant to a Pooling and Servicing Agreement dated as of February 1, 2007 (the “Agreement”) among the Depositor, Ocwen Loan Servicing, LLC as servicer (the “Servicer”), ▇▇▇▇▇ Fargo Bank, N.A. as master servicer and trust administrator (the “Master Servicer” and “Trust Administrator”), and Deutsche Bank National Trust Company, a national banking association, as trustee (the “Trustee”).
With respect to any Ocwen Serviced Loan transferred to Wilshire pursuant to this clause (iv)(A) prior to such Mortgage Loan being serviced by Ocwen for a period of one year, Ocwen shall receive $25 as a deboarding fee.
As to any Ocwen Serviced Loan for which Ocwen is to receive the compensation described in the previous sentence in lieu of its Servicing Fee, Ocwen shall report such information to the Trustee together with the information reported to the Trustee on each Servicer Data Remittance Date pursuant to Section 4.06 hereof.
The rights and obligations of the Back-Up Servicer under this Agreement shall terminate upon the earlier of (i) the appointment of the Back-Up Servicer (or its affiliate) as successor Servicer to Ocwen and (ii) the termination of ▇▇▇▇▇ Fargo as Back-Up Servicer by the Seller.